Synopses & Reviews
The failure of economists to anticipate the global financial crisis and mitigate the impact of the ensuing recession has spurred a public outcry. Economists are under fire, but questions concerning exactly how to redeem the discipline remain unanswered. In this provocative book, renowned economist Meghnad Desai investigates the evolution of economics and maps its trajectory against the occurrence of major political events to provide a definitive answer.
Desai underscores the contribution of hubris to economistsandrsquo; calamitous lack of foresight, and he makes a persuasive case for the profession to re-engage with the history of economic thought. He dismisses the notion that one over-arching paradigm can resolve all economic eventualities while urging that an array of already-available theories and approaches be considered anew for the insights they may provide toward preventing future economic catastrophes. With an accessible style and keen common sense, Desai offers a fresh perspective on some of the most important economic issues of our time.
"… anti-globalization activists would do well to check out Marx’s Revenge, which is an economic history aimed at the general reader." Irish Times
"A criticism from the Left was that it was over-optimistic to hope for 'social capitalism.' Well, perhaps. But capitalism is all we've got and Meghnad Desai's book Marx's Revenge, published by Verso, is brilliantly timed." William Keegan
"Marx, if we did but know it, is the prophet and advocate of globalization." The Observer
"A stimulating, judicious and learned book, at times provocative and merry, but, above all, thoughtful on where the world has come from … and the errors and breakthroughs of judgement which allow us to treat our economic world with enhanced self-consciousness." Will Hutton Independent Magazine
and#39;Here is something completely different: a really rather delightful and useful little survey of economic history... that deserves to be widely read.andrsquo;andmdash;Diana Hunter, Financial World.andnbsp;
In the triumphant resurgence of capitalism, the one thinker who is vindicated is Karl Marx.
A frank assessment of economistsandrsquo; blindness before the financial crash in 2007andndash;2008 and what must be done to avert a sequel
About the Author
Meghnad Desai is emeritus professor of economics, London School of Economics, where he was also founder and former director of the Global Governance Research Centre. He is a member of the House of Lords and chairman of the Official Monetary and Financial Institutions Forum. He lives in London.